Matches in SemOpenAlex for { <https://semopenalex.org/work/W2042600400> ?p ?o ?g. }
Showing items 1 to 57 of
57
with 100 items per page.
- W2042600400 abstract "In the late 1970s countries in Latin America's Southern Cone attempted to lower domestic inflation rates through the progressive reduction of a preannounced rate of exchange-rate devaluation. The stabilization programs gave rise to massive inflows, real exchange-rate appreciation, and current-account deficits. This paper develops a stylized intertemporal framework in which the effects of a preannounced exchange-rate oriented disinflation scheme can be studied. It is shown that even when agents have perfect foresight and markets clear continuously, the capital inflows problem and the associated real appreciation may result.While unanticipated, permanent inflation changes are neutral in the paper,anticipated inflation is neutral only in exceptional circumstances. A preannounced disinflation operates by altering the path of an expenditure -based real domestic interest rate that depends on expected changes in the prices of liquidity services and nontradable consumption goods. Alternatively, by raising future real balances, anticipated disinflation may cause an incipient change in the time path of consumption's marginal utility, leading agents to revise consumption plans. It is noteworthy that disinflation's long-run effect on the real exchange rate more than reverses its short-run effect. If disinflation occasions a real appreciation on impact, say, the relative price of tradables must rise in the long run so that the economy can service the additional external debt incurred in the transition period." @default.
- W2042600400 created "2016-06-24" @default.
- W2042600400 creator A5018047996 @default.
- W2042600400 date "1984-09-01" @default.
- W2042600400 modified "2023-09-29" @default.
- W2042600400 title "The Capital Inflows Problem Revisited: A Stylized Model of Southern Cone Disinflation" @default.
- W2042600400 doi "https://doi.org/10.3386/w1456" @default.
- W2042600400 hasPublicationYear "1984" @default.
- W2042600400 type Work @default.
- W2042600400 sameAs 2042600400 @default.
- W2042600400 citedByCount "4" @default.
- W2042600400 countsByYear W20426004002016 @default.
- W2042600400 crossrefType "report" @default.
- W2042600400 hasAuthorship W2042600400A5018047996 @default.
- W2042600400 hasBestOaLocation W20426004001 @default.
- W2042600400 hasConcept C126285488 @default.
- W2042600400 hasConcept C127313418 @default.
- W2042600400 hasConcept C139719470 @default.
- W2042600400 hasConcept C149782125 @default.
- W2042600400 hasConcept C162324750 @default.
- W2042600400 hasConcept C165556158 @default.
- W2042600400 hasConcept C166957645 @default.
- W2042600400 hasConcept C205649164 @default.
- W2042600400 hasConcept C2780569737 @default.
- W2042600400 hasConcept C38935604 @default.
- W2042600400 hasConcept C556758197 @default.
- W2042600400 hasConcept C83646750 @default.
- W2042600400 hasConceptScore W2042600400C126285488 @default.
- W2042600400 hasConceptScore W2042600400C127313418 @default.
- W2042600400 hasConceptScore W2042600400C139719470 @default.
- W2042600400 hasConceptScore W2042600400C149782125 @default.
- W2042600400 hasConceptScore W2042600400C162324750 @default.
- W2042600400 hasConceptScore W2042600400C165556158 @default.
- W2042600400 hasConceptScore W2042600400C166957645 @default.
- W2042600400 hasConceptScore W2042600400C205649164 @default.
- W2042600400 hasConceptScore W2042600400C2780569737 @default.
- W2042600400 hasConceptScore W2042600400C38935604 @default.
- W2042600400 hasConceptScore W2042600400C556758197 @default.
- W2042600400 hasConceptScore W2042600400C83646750 @default.
- W2042600400 hasLocation W20426004001 @default.
- W2042600400 hasLocation W20426004002 @default.
- W2042600400 hasOpenAccess W2042600400 @default.
- W2042600400 hasPrimaryLocation W20426004001 @default.
- W2042600400 hasRelatedWork W1560900677 @default.
- W2042600400 hasRelatedWork W1586634817 @default.
- W2042600400 hasRelatedWork W2010603602 @default.
- W2042600400 hasRelatedWork W2042600400 @default.
- W2042600400 hasRelatedWork W2076516085 @default.
- W2042600400 hasRelatedWork W2119523110 @default.
- W2042600400 hasRelatedWork W2165861957 @default.
- W2042600400 hasRelatedWork W3121191167 @default.
- W2042600400 hasRelatedWork W3121282955 @default.
- W2042600400 hasRelatedWork W1828041661 @default.
- W2042600400 isParatext "false" @default.
- W2042600400 isRetracted "false" @default.
- W2042600400 magId "2042600400" @default.
- W2042600400 workType "report" @default.